A Transaction Caused a $15,000 Decrease in Both Total Assets

question 79

Multiple Choice

A transaction caused a $15,000 decrease in both total assets and total liabilities. This transaction could have been:

• A) Purchase of a delivery truck for $15,000 cash.
• B) An asset with a cost of $15,000 was destroyed by fire.
• C) Repayment of a $15,000 bank loan.
• D) Collection of a $15,000 account receivable.

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Definitions:

Job Lateness

The situation in which a task or project is not completed within the scheduled timeframe, leading to potential delays in the overall process or workflow.

Earliest Due Date

A scheduling method that prioritizes tasks, projects, or orders based on their due dates, starting with the earliest, to optimize workflow and minimize delays.

Critical Ratio

A decision-making tool that compares the time remaining until a deadline with the total remaining time required for completion.

Work Centre

A specific location, machine, or group of machines where operations or processing steps are carried out.